A spectacular contemporary mansion in Miami Beach has just sold for $75 million, marking the second-most expensive single-family home deal ever in the city. While the price may be impressive, it falls short of the original asking price of $88 million, reflecting the ever-changing dynamics of the luxury real estate market. This sale also sets a new record for La Gorce Island, a small community known for its exclusivity, making it a significant milestone in Miami Beach’s real estate history.
The Second-Most Expensive Home in Miami Beach’s History
While the $75 million deal doesn’t top the recent $120 million sale of Vladislav Doronin’s Star Island mansion, it certainly holds its ground. This sale ranks just behind the record-breaking deal on Star Island, which was finalized just a month ago. For La Gorce Island, however, this transaction is the priciest ever, although it still lags behind last year’s $100 million sales of three adjacent properties on the island.
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OKTO Mansion: A Unique, Architecturally Striking Property
Designed for the Ultra-Luxury Buyer
Named “OKTO,” this modern, waterfront mansion found a buyer just two weeks after hitting the market in February 2025. Listing agent Nelson Gonzalez from BHHS EWM Realty confirmed the quick sale, which also marked a significant profit for the sellers. The property was initially purchased by the Kollmann family from Germany, who are owners of a textile conglomerate, for just $15.7 million in 2010. The family had initially listed the mansion for $38.5 million in 2021 but ultimately decided to hold onto the property until they were ready to sell.
“Now, just four years later, we’ve sold it—impressively for double that price. It is a true testament to the growth of the market and sustained strong demand for unique, ultra-luxury properties in Miami Beach,” said Gonzalez.
The Features That Set OKTO Apart
A Design Inspired by Frank Lloyd Wright
One of the most stunning features of OKTO is its Guggenheim-inspired staircase, a nod to Frank Lloyd Wright’s iconic design of the New York museum. The home’s sleek, modern design includes floor-to-ceiling windows, polished tile floors, and an open floor plan that enhances the sense of space and light throughout the nearly 16,000-square-foot mansion.
The home offers nine bedrooms, 12 full bathrooms, and three half-baths. The primary suite, located on the second floor, boasts a private terrace with picturesque views of the water, providing the perfect retreat. Additionally, the property includes a guest house and two-bedroom staff quarters, ensuring ample space for family, friends, and staff.
Top-Tier Amenities for Ultimate Comfort
As expected for a mansion of this caliber, OKTO is equipped with an array of luxurious amenities. These include a five-car garage, an elevator for convenience, a fully-equipped gym, and two private docks for yacht owners. Outside, the home features a 100-foot swimming pool and a rooftop, offering breathtaking views of the Intracoastal Waterway.
The property is located on a sprawling 1.1-acre lot with 260 feet of water frontage, giving its owners a perfect spot to enjoy the vibrant Miami Beach lifestyle. The design and the amenities of the home make it an ideal residence for those seeking a luxurious, private retreat in one of the most desirable areas in South Florida.
The Continued Growth of Miami Beach’s Luxury Market
Strong Demand Despite Market Fluctuations
Despite the drop from the original asking price, the $75 million sale shows that Miami Beach’s luxury market remains one of the strongest in the region. The median price of a single-family home in Miami Beach rose by 25% in the first quarter of this year, according to Douglas Elliman, reflecting the ongoing demand for exclusive properties in the area.
While overall demand for luxury homes across the broader Miami area may be slowing, Miami Beach’s appeal continues to rise, driven by its unique combination of waterfront living, world-class amenities, and proximity to both local and international hotspots.
The Future of La Gorce Island and Miami Beach’s High-End Real Estate
As the OKTO mansion sale shows, La Gorce Island remains a highly sought-after destination for affluent buyers. The neighborhood’s exclusivity, combined with Miami Beach’s broader appeal, makes it an attractive location for high-end real estate investments. With the demand for ultra-luxury homes showing no signs of slowing down, Miami Beach is set to remain a top destination for wealthy individuals seeking unparalleled living spaces.